By Nandan Mandayam and Kashish Tandon (Reuters) -Indian budget retailer Vishal Mega Mart's $943 million IPO was fully subscribed on the second day of bids on Thursday, though a flood of recent offerings dulled retail investors' appetite for a company analysts say is immune to its bigger rivals' problems.

Vishal Mega Mart Ltd.’s $944 million initial public offering was fully sold on the second day of the sale, driven by strong demand from high-networth and retail investors.

Vishal Mega Mart's Rs 8,000 crore IPO was fully subscribed on Day 2, reaching 1.53 times subscription. The IPO will close on December 13, with shares available at Rs 74-78 apiece.

Retail investors can bid in the IPO with a minimum lot size of 190 shares, resulting in an investment of ₹14,820. With the subscription window closing on December 13, Vishal Mega Mart is slated to finalise the allotment of shares on December 16.

Non-Institutional Investors (NIIs) have led the demand for the Vishal Mega Mart IPO, subscribing to their reserved quota 1.71 times

Vishal Mega Mart IPO was subscribed 51 per cent on the first day of subscription, with the portion reserved for NIIs booked the highest among the three groups of investors.

The portion for non-institutional investors attracted 3.80 times subscription while the share of Retail Individual Investors (RIIs) got subscribed

The portion for retail investors was subscribed 0.93 times, while the non-institutional part was subscribed 2.5 times

(Reuters) -Indian budget retailer Vishal Mega Mart's 80-billion-rupee ($943 million) initial public offering (IPO) was fully subscribed on day two of bids, led by demand from non-institutional investors.